Naming a trustee may be one of the most important decisions of your life - Crawford Ellenbogen

One of the major decisions you’ll need to make when establishing a trust is who will act as your trustee. As the name implies, this individual or financial institution must be above reproach. But that’s just one quality of many that your trustee requires. Other qualities include an understanding of tax and trust law, integrity and honesty, and the ability to work with all beneficiaries objectively and impartially. Naming a family member as a trustee may seem to be an appealing choice. However, because some trusts continue for generations, trustees may need to be available for an extended period. Thus, many people name a financial institution or professional advisor as trustee.